CGST appeal order imposes Rs 80.22 lakh penalty on HCL Infosystems

Litigation lossRegulatory & Legal View source PDF Explain this filing

HCL-INSYS · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-3.5%Reaction day

₹10.52

prior close

₹10.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-1.9% vs market

Computers Hardware & Equipments peers, median of 18sector-1.7%-1.9% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.9 pts less than its Computers Hardware & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.9

10m

-2.4

15m

-3.0

30m

-4.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.5-1.6-1.9-1.7-1.9

Next day

-2.8-0.6-2.2-2.0-0.7

-4.1-0.8-3.2-2.0-2.1

-4.8-2.1-2.6-2.8-1.9

-4.6-2.1-2.4-3.8-0.8

-3.5-0.8-2.7-1.9-1.7

-5.8-3.8-2.0-2.5-3.3

15d

-7.1-6.9-0.2-4.9-2.3

-9.3-8.0-1.3-5.0-4.3

—————

UpDownMarket · Nifty Microcap 250Sector · Computers Hardware & Equipments peers, median of 18Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

HCL Infosystems received a CGST appeal order on 24 Sept 2026. The original order from Feb 2025 had confirmed a tax demand of Rs 80.22 lakhs on disallowance of CENVAT credit for various cesses in the pre-GST regime, but had dropped interest and penalty. The tax department appealed, and the Additional Commissioner, CGST (Appeals), Noida has now partially allowed the department's appeal by imposing a penalty of Rs 80.22 lakhs under Section 74(1) of the CGST Act. The company is evaluating the order and considering further legal remedies.

Likely market impact

Modest financial impact of Rs 80.22 lakh penalty. Company is evaluating legal remedies, which could limit the final outgo.